Sun Microsystems Inc. CEO is asking employees to be prepared to support Oracle now that the European Commission has cleared the $7.4 billion purchase. According to Business Week, Sun, the fourth-biggest maker of server computers, is Oracles first purchase outside of the software market.
"Sun Microsystems Inc. Chief Executive Officer Jonathan Schwartz told employees to be prepared to give their support to Oracle Corp., which is about to complete its $7.4 billion takeover of Sun.
"Oracle, the worlds No. 2 software maker, announced plans to buy Sun in April. The European Commission cleared the purchase today after an extended review, one of the last regulatory hurdles for the transaction. Oracle CEO Larry Ellison said in September that Sun was losing $100 million a month as customers waited for the deal to close."